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Dubai Debt Delay Rattles Confidence in Gulf Borrowers
Laura Cochrane and Tal Barak Harif
Bloomberg News
Thursday, November 26, 2009
Nov. 26 (Bloomberg) — Dubai is shaking investor confidence across the Persian Gulf after its proposal to delay debt payments risked triggering the biggest sovereign default since Argentina in 2001.
The cost of protecting government notes from Abu Dhabi to Bahrain rose, extending the steepest increase since February as Dubai World, with $59 billion of liabilities, sought a “standstill” agreement from creditors. Bonds of its property unit, Nakheel PJSC, mature Dec. 14. Dubai contracts climbed 124 basis points to 564, the most since they began trading in January, adding to 122 yesterday, CMA Datavision prices showed.
(ARTICLE CONTINUES BELOW)
“There is nothing investors dislike more than this kind of event,” said Norval Loftus, the head of convertible bonds and Islamic debt at Matrix Group Ltd. in London, which manages $2.5 billion of assets including Dubai credits. “The worst-case scenario will of course be involuntary restructuring on the Nakheel security that brings into question the entire nature of the sovereign support for various borrowers in the region.”
Moody’s Investors Service and Standard & Poor’s cut the ratings on state companies yesterday, saying they may consider state-controlled Dubai World’s plan to delay debt payments a default. The sheikhdom, ruled by Sheikh Mohammed Bin Rashid Al Maktoum, borrowed $80 billion in a four-year construction boom that reduced its reliance on falling oil supplies and created the region’s tourism and financial hub.
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November 26th, 2009 at 7:46 am
I am wondering if the US$ will now get stronger or weaker. You can anticipate the dollar to be unstable regardless. I hope most of you invested in gold by now.
Life Saver Reply:
November 26th, 2009 at 7:59 am
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Quantummonkeybutt Reply:
November 26th, 2009 at 11:07 am
PRISONPLANET IS NOT A PLACE FOR YOU TO PLUG YOUR PRODUCTS, UNLESS YOU’RE PAYING ALEX FOR THE SPACE, AND YOU’VE GOT ONE OF THOSE FANCY FLASHING ANIMATIONS YOU SEE TO THE RIGHT, A$$WIPE!!!
PERSONALLY, I HOPE DUBAI FALLS IN THE SEA, JUST LIKE ATLANTIS, EXCEPT TO BE FORGOTTEN FOREVER ALONG WITH THE ‘NEW WORLD CO&%SUCKERS THAT CALL IT ‘HOME BASE’…
QMB
hope you
can swim
WORK.BUY.CONSUME.DIE. Reply:
November 26th, 2009 at 12:20 pm
QMB: i love this kind of morning passion. thanks for keeping me sane and lol…….
will hale Reply:
November 26th, 2009 at 2:17 pm
i agree here i am sick of spam
i look at replies to be informed …about the subject not your cigarettes
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save money save money
live healthy
GIVE UP!!
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November 26th, 2009 at 8:01 am
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Tim in LA Reply:
November 26th, 2009 at 6:33 pm
CAN WE HAS A SPAM BUTTON?
Stuck in the Matrix Reply:
November 26th, 2009 at 5:03 pm
REMEMBER WHAT LINDSEY WILLIAMS THE PREACHER FORM PRUDOE BAY SAID?
THE GLOBALIST WOULD KEEP THE PRICE OF OIL DOWN TO BANKRUPT THE ARAB NATIONS.
LOOKS LIKE ITS WORKING! ……….
PS: HIS INSIDE INFORMATION HASNT BEEN WRONG YET!!!
BETTER HANG ON FOR THE RUFF RIDE SOLDIERS!!!
November 26th, 2009 at 7:48 am
I wonder if the US$ will go up or down. Be assured that the US$ will be unstable for a long time. I hope everyone invested in gold when the price was low because it’s about to hit the $1,200 level. It’s anticipated to ultimately reach $2,500 in a few years.
bob Reply:
November 26th, 2009 at 9:34 am
how does 5000 sound?
November 26th, 2009 at 7:48 am
$80 billion for a “financial hub”
Sounds like Wall Street
Profitable elite theft
November 26th, 2009 at 7:52 am
Poining my finger saying ” haaah haaah! ” just make sure oil stays down!!
November 26th, 2009 at 7:58 am
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November 26th, 2009 at 8:05 am
Funny thing is the US bankers caused it all. Biggest conspiracy the world has ever sean. And they call us nuts, I have an IQ of 150 and I’m a nut job. This country has more oil then you could ever imagine.
WELCOME TO THE MATRIX
nosmart Reply:
November 26th, 2009 at 12:25 pm
the alaskan north slope has more oil than the entire gulf region….but dont tell anyone that. americans might want their own easily accessed giant field of oil.
November 26th, 2009 at 8:18 am
Here it is – Dubai structured in 1948, with CITI as the model for “debt sold as credit,” and the idea was this huge footprint in the Middle East as a one world government over all earth.
Charging for “carbon credits” BREATHING AIR – already bottling water and manufacturing UNSAFE (everything) water, in reality NATURE’S PRODUCTS which belong to all life on the planet. Whew, what a novel idea.
The plan hatched with the State of Israel to be this great truth from the GOD above all other gods of earth 1800s-early 1900s, and in 1948, Israel (Christianity, Muslim, etc.) and a chosen people who were obviously therefore, above all other humans.
This story is so unreal that telling it sets the teller up as a tall tale story-in-liar, chief of all idiots to open the mouth with such nonsense pouring out: “the tongue is at home when the mouth is shut.”
BUT, and this is a big BUTT more than likely Henry Miller would agree it is “blotting out the sun” ON IT GOES, the families of antiquity having inbred into this 21st Century and their lineages are abnormal in a state of critical mass decline — how to bring balance into the abomination of the degenerates’ who control earth in this time of clear cannibals continue to rule and have for far too long!?
November 26th, 2009 at 9:09 am
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Tim in LA Reply:
November 26th, 2009 at 6:36 pm
SRSLY SPAM BUTTON!?!?!?
November 26th, 2009 at 10:20 am
Aren’t these the same people who wasted millions of dollars to “Air condition” the beach sand so some smug rich @#^& wouldn’t burn their toes going to the water? Are we really suppose to care?
November 26th, 2009 at 11:21 am
Oh my heart bleeds for them pooooooooooooor Dubai !!!!!!!!!!!! NOT
November 26th, 2009 at 2:38 pm
Its all about real life insurance
The best thing of all about this insurance policy is that it is free! (Revelation 22:17) . . .And the spirit and the bride keep on saying: “Come!” And let anyone hearing say: “Come!” And let anyone thirsting come; let anyone that wishes take life’s water free. (Revelation 21:5-6) . . .And the One seated on the throne said: “Look! I am making all things new.” Also, he says: “Write, because these words are faithful and true.” 6 And he said to me: “They have come to pass! I am the Al′pha and the O‧me′ga, the beginning and the end. To anyone thirsting I will give from the fountain of the water of life free.
(John 17:3) . . .This means everlasting life, their taking in knowledge of you, the only true God, and of the one whom you sent forth, Jesus Christ.
(Ezekiel 7:19) . . .Into the streets they will throw their very silver, and an abhorrent thing their own gold will become. Neither their silver nor their gold will be able to deliver them in the day of Jehovah’s fury. Their souls they will not satisfy, and their intestines they will not fill, for it has become a stumbling block causing their error.
(Isaiah 65:13-16) . . .Therefore this is what the Sovereign Lord Jehovah has said: “Look! My own servants will eat, but YOU yourselves will go hungry. Look! My own servants will drink, but YOU yourselves will go thirsty. Look! My own servants will rejoice, but YOU yourselves will suffer shame. 14 Look! My own servants will cry out joyfully because of the good condition of the heart, but YOU yourselves will make outcries because of the pain of heart and YOU will howl because of sheer breakdown of spirit. 15 And YOU men will certainly lay up YOUR name for an oath by my chosen ones, and the Sovereign Lord Jehovah will actually put [YOU] individually to death, but his own servants he will call by another name; 16 so that anyone blessing himself in the earth will bless himself by the God of faith, and anyone making a sworn statement in the earth will swear by the God of faith; because the former distresses will actually be forgotten and because they will actually be concealed from my eyes.
Tim in LA Reply:
November 26th, 2009 at 6:36 pm
I’D LIKE A RELIGILOUS BUTTON TOO THX
Glen Reply:
November 26th, 2009 at 7:16 pm
GOOGLE – EVIL BIBLE .com and get the other side of the argument.
November 26th, 2009 at 2:53 pm
If you guys believe Alex Jones as i do…kindly check out my video on youtube:
http://www.youtube.com/watch?v=NgrWfJc8F3Q
November 26th, 2009 at 5:51 pm
Over many years we have all been lied to by our Governments… But not just our Governments but many religous leaders. Many things we have been taught are not even in Scripture and millions have swallowed so many lies by these false prophets. If you are a truth seeker please visit the following web site and take the time to read some of the articles… You will be shocked.
THERE IS A GREAT NEW AUDIO THERE FOR YOU TO LISTEN TO. YOU WILL COME AWAY ASKING MANY QUESTIONS. REAL SHOCKING.
http://www.2besaved.com
Blessings as you seek truth
Ben
November 26th, 2009 at 6:37 pm
CHRIST ON A BIKE YOU SPAMMERS SUCK
November 26th, 2009 at 7:24 pm
I have an urgent message for you, more important than any message you can hear. God is Holy and cannot accept sin(honor thy mother and father…, thou shall not kill, thou shall not commit adultery, thou shall not steal, thou shall not bear false witness against thy neighbor, thou shall not covet..etc…Exodus 20:12-17). Here are some verses that show examples of sin:
“Ye have heard that it was said of them of old time, Thou shalt not kill; and whosoever shall kill shall be in danger of the judgment: But I say unto you, That whosoever is angry with his brother without a cause shall be in danger of the judgment: and whosoever shall say to his brother, Raca, shall be in danger of the council: but whosoever shall say, Thou fool, shall be in danger of hell fire.” Matthew 5:21-22
“Ye have heard that it was said by them of old time, Thou shalt not commit adultery: But I say unto you, That whosoever looketh on a woman to lust after her hath committed adultery with her already in his heart.” Matthew 5:27-28
“It hath been said, Whosoever shall put away his wife, let him give her a writing of divorcement: But I say unto you, That whosoever shall put away his wife, saving for the cause of fornication, causeth her to commit adultery: and whosoever shall marry her that is divorced committeth adultery.” Matthew 5:31-32
“For ALL have sinned, and come short of the glory of God;” Romans 3:23. Your good deeds cannot cover up your bad deeds.
“But we are all as an unclean thing, and all our righteousnesses are as filthy rags; and we all do fade as a leaf; and our iniquities, like the wind, have taken us away.” Isaiah 64:6
“As it is written, There is none righteous, no, not one: There is none that understandeth, there is none that seeketh after God. They are all gone out of the way, they are together become unprofitable; there is none that doeth good, no, not one.” Romans 3:10-12
You could be perfect in all the law and stumble at one point and it is as if you broke all of them:
“For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.” James 2:10
“Therefore to him that knoweth to do good, and doeth it not, to him it is sin.” James 4:17
God wrote the law on each man’s heart so they are without excuse on judgment day when we will ALL stand before Christ(”Which shew the work of the law written in their hearts, their conscience also bearing witness, and their thoughts the mean while accusing or else excusing one another” Romans 2:15). The penalty of sin is death and eternal punishment in the LAKE OF FIRE(which IS the second death). I am warning you about hell because I love you! You are dead in your sins and headed for hell which is described in the Word as a FIRE THAT QUENCHES NOT(”…the fire is not quenched” Mark 9:44). It is a horrible and terrible place of everlasting torment that people will go because of their sins. God is Holy, Just and eternal. Offending a Holy, Just and eternal God demands ETERNAL punishment! “…he is an holy God;…he will not forgive your transgressions nor your sins.” Joshua 24:19; “…For the LORD is a God of judgement…” Isaiah 30:18;”…a just God…” Isaiah 45:21; “The eternal God…” Deuteronomy 33:27
“And shall cast them into the furnace of fire: there shall be wailing and gnashing of teeth.” Matthew 13:50
“But I will forewarn you whom ye shall fear: Fear him, which after he hath killed hath power to cast into hell; yea, I say unto you, Fear him.” Luke 12:5
“And it came to pass, that the beggar died, and was carried by the angels into Abraham’s bosom: the rich man also died, and was buried; And in hell he lift up his eyes, being in torments, and seeth Abraham afar off, and Lazarus in his bosom. And he cried and said, Father Abraham, have mercy on me, and send Lazarus, that he may dip the tip of his finger in water, and cool my tongue; for I am tormented in this flame.” Luke 16:22-24
“In flaming fire taking vengeance on them that know not God, and that obey not the gospel of our Lord Jesus Christ: Who shall be punished with everlasting destruction from the presence of the Lord, and from the glory of his power;” 2 Thessalonians 1:8-9
“But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.” Revelation 21:8
But God has provided a way for each to escape the lake of fire. He sent his Son Jesus(God manifest in the flesh-1 Timothy 3:16) who was conceived by a virgin by the Holy Spirit of God,lived a sinless life, and suffered a horrible death/shed blood and rose again 3 days later to take the penalty of YOUR sins so you dont have to pay for them in hell for eternity! He loved you so much which is why he did it! He is the only one to have fufilled the law perfectly(sinless) and paid the price of the entire world’s sins so that man could be saved on the merits of His perfection(see Romans 5:19). All you must do to be saved is BELIEVE in Him(trust in Him to save you as a sinner). You must admit your lost sinful condition to Him/that you’re worthy of hell, and ask Him to save you by placing complete trust in Jesus ALONE for salvation(an example in the Word of someone doing this- “And the publican, standing afar off, would not lift up so much as his eyes unto heaven, but smote upon his breast, saying, God be merciful to me a sinner.” Luke 18:13).It is not even partly by yourselves that you can be saved, but only by the merits of Jesus Christ!
“For God so loved the world, He sent his only Begotten Son, that whosoever believeth in Him shall not perish, but have everlasting life” John 3:16.
“And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world” 1 John 2:2
“…Unto him that loved us, and washed us from our sins in his own blood,” Revelation 1:5
“…I declare unto you the gospel which I preached unto you…how that Christ died for our sins according to the scriptures; And that he was buried, and that he rose again the third day according to the scriptures:” 1 Corinthians 15:1-4
“…what must I do to be saved? And they said, Believe on the Lord Jesus Christ, and thou shalt be saved…” Acts 16:29-31
“But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness.” Romans 4:5
“That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” Romans 10:9-10
No works or anything you do can save you! May God open your eyes, that one day I may see you in heaven. Read the Word of God(the 1611 King James version- NOT the modern versions, they are corrupt) before rejecting it! Death is fleeting. You may NOT have tomorrow! For death comes when we least expect it! Make sure you are saved TODAY! The Bible condemns the rich, the wealthy, and those who take advantage of the poor, so it CANNOT have been made up by the elite. Because the Word clearly CONDEMNS people such as those! It declares all mankind as sinners(myself included).
I am a Christian, and love you enough to warn you of the dangers of hell. Beware, the Roman catholic church is NOT Christian! The church CANNOT save you but only Christ! Just because someone says they are a Christian does not necessarily mean they are one(remember the crusades in history? Many were murdered in the name of Christianity. These were no Christians at all by their testimony). Please email me to inquire more. I would be glad to help you out in your search for truth!(my email- livingwaters705@hotmail.com)…To those who slander/mock me, I pray for you and love you anyways and hope you will trust Christ before its too late!
Salvation is not found in good works, rituals, church, the pope, water baptism, good lives, etc….But ONLY found by faith in Jesus Christ the Savior!
If you need prayer or anything, just let me know! I would be glad to help! I love and care for you, and I have prayed that every person that reads this who do not know the Lord, would one day turn to Christ in faith for salvation for their sins. I beg you to turn to Christ in faith before it is too late! You get ONE chance while living and then it is too late forever:
“And as it is appointed unto men once to die, but after this the judgment:” Hebrews 9:27
“And ye shall know the truth, and the truth shall make you free.” John 8:32
“Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.” John 14:6
“…there is no God else beside me; a just God and a Saviour; there is none beside me. Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else.” Isaiah 45:21-22
“And the Spirit and the bride say, Come. And let him that heareth say, Come. And let him that is athirst come. And whosoever will, let him take the water of life freely.” Revelation 22:17
November 26th, 2009 at 7:58 pm
They are probably getting ready to KICK THE DIRTY f---ING DOLLARS OUTTA THEIR NATION & REPLACE EM WITH GOLD..NO DOUBT..
November 26th, 2009 at 8:30 pm
Maybe it’s time to get in the repo business.
November 26th, 2009 at 8:54 pm
EAT SAND ASSHOLES
November 26th, 2009 at 9:59 pm
Get your money out of the british banks!!! They all have massive exposure to Disney on the Gulf!! This will spread through this region! The Elites are bankrupting each other!!
November 26th, 2009 at 11:08 pm
Spent a few days in Dubai this past week and learned a few things. After visiting a big ass mall that was mostly empty, I kept thinking, this can’t be good. Learned you can’t play a piano in public unless you have a license(it’s 40,000 fine), they’re still the middle east and the women who live there look miserable. Saw a lot of the imported labor leaving the country, and tons of unfinished building projects. looks like Dubai won’t become the world’s greatest tourist destination after all, oh or banking center, since they’re running out of money……and I agree with the comment above….poooooooooooor Dubai.
November 26th, 2009 at 11:51 pm
And so we are doomed to fail, look at you people, it’s pretty pathetic. You curse other countries and laugh at them while they are collapsed just as you are being collapsed using the same tactics of leveraging and usery. I trully believe we are all doomed. There is no sympathy for anybody anymore, if anything, we need to stand together as humanity to stop this evil. Remember, it is a global government so fighting it off will require all nations of the world to wise up to the scam and start saying no. By allowing any country to fall into the IMF UN grip is one step closer to our demise here in the west. For God sakes people, go back on your hatefull ways. With the amount that the US has been used as an iron fist to the rest of the world, when your turn comes it will not just be people saying “good for the USA, they got what they deserved!” They will be cheering and throwing gallons of fuel to help raze your country to the ground. Wake up you braindead idiots so that we may have at least a fighting chance.
November 27th, 2009 at 1:09 am
AmeriKa is also collapsing..in EVERY WAY POSSIBLE..YOU SHEEPLE AINT SEEN NUTIN YET..
November 27th, 2009 at 2:01 am
Sounds like another bailout will be needed
November 27th, 2009 at 3:44 am
all coming to a theatre near you america,
just sit back, it’ll be painless. it’s time for a great american “quote” man to speak.
“We are the living graves of murdered beasts,
Slaughtered to satisfy our appetites.
We never pause to wonder at our feasts,
If animals, like men, can possibly have rights.
We pray on Sundays that we may have light,
To guide our footsteps on the path we tread.
We�re sick of war,we do not want to fight-
The thought of it now fills our hearts with dread,
And yet – we gorge ourselves upon the dead.”
most of which will be lost upon the derelict masses here.
November 27th, 2009 at 4:04 am
opps, wrong thread. ha.
November 27th, 2009 at 4:57 am
http://www.youtube.com/watch?v=B2INIOXe_WI new 9/11 info
November 29th, 2009 at 11:10 am
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